(To read more on the industrial market, click here.)

HERNDON, VA-Chicago developer Fifield Cos. has purchased from Penzance Properties a 7.9-acre site at Dulles Corner office park here for $13.4 million. Bill Collins, Paul Collins, Drew Flood, and James Cassidy of Cassidy & Pinkard Colliers represented the seller.

Dulles View will be the Fifield’s first project in the DC area. The firm chose this particular site, though, because it could accommodate federally mandated 82-ft set-backs. Also, the approvals were already in place to begin construction.

The 82-ft set-backs have been a requirement, on the books at least, for many years but rarely strictly enforced. Last year, though, they were cited by the Department of Defense’s Base Realignment and Closure Commission as one reason why it was closing certain offices and bases in the Washington, DC area. Much confusion developed around how these standards were to be applied following the BRAC decision. Eventually it was determined that the requirement does not necessarily apply to all government-occupied buildings. Some government and military operations, though, will be required to adhere to the standards.

Dulles View is located at the northeast corner of the planned grade-separated interchange at Route 28 (Sully Road) and Frying Pan Road. Upon completion, the property will consist of two class A, eight-story office buildings, each totaling 177,401 rentable sf.

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